Following are the transactions of a new company called Pose for Pics.
Aug. 1 | Kasey Madison, the owner, invested $6,000 cash and $25,800 of photography equipment in the company in exchange for common stock. |
2 |
The company paid $3,900 cash for an insurance policy covering the next 24 months.
|
5 | The company purchased office supplies for $1,140 cash. |
20 | The company received $3,700 cash in photography fees earned. |
31 | The company paid $874 cash for August utilities. |
Prepare general journal entries for the above transactions. (Omit the "$" sign in your response.)
|
Date | General Journal | Debit | Credit |
Aug. 1 | Cash | ||
Photography equipment | |||
Common stock | |||
2 | Prepaid insurance | ||
Cash | |||
5 | Office supplies | ||
Cash | |||
20 | Cash | ||
Photography fees earned | |||
31 | Utilities expense | ||
Cash |
No comments:
Post a Comment